Question

Question 34

Patents, copyrights, and trademarks

Question 34 options:

	are examples of government-created monopolies.
	allow their owners to reduce the costs of what they produce.
	generate more revenue for the government than they cost consumers in the form of higher prices.
	All of the above are correct.

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Question 35

A market structure with barriers to entry is

Question 35 options:

	a monopoly.
	oligopolistically competitive.
	monopolistically competitive.
	perfectly competitive.

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Question 36

The production function is

Question 36 options:

	the increase in the amount of output from an additional unit of labor.
	influenced by the productivity of workers.
	the marginal revenue produce minus the wage rate paid to workers.
	All of the above are correct.

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Question 37

The marginal product of labor is defined as the change in

Question 37 options:

	output per additional unit of revenue.
	output per additional unit of labor.
	revenue per additional unit of labor.
	revenue per additional unit of output.

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Question 38

A benefit of a monopoly is

Question 38 options:

	lower prices.
	a wide variety of similar products.
	decreasing long-run average total costs.
	greater creativity by authors who can copyright their novels.